Ogden: State has $1.8 billion surplus
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This is what he told me in a conversation we had earlier today. The reason is higher-than-expected sales tax receipts and a similar bonanza of oil and gas money for the Rainy Day Fund, above the comptroller’s estimate. Due to the increased revenue, Ogden said, there will be fewer layoffs as well. Waxing philsophical, he said that, as much as he didn’t like budgeting with all the deferrals, it was the right thing to do, that the public wanted to see the Legislature exercise some fiscal discipline, and they did.